Hard Money Lending SFH Documentation

[Jignesh Shah]

Hi,

I am planning to do my first hard money loan to an experience developer who is purchasing a house and plan to flip it in few months after renovation --- LTC and LTV are low with 20+ % equity from developer.

Since this is my first project -- I am more worried/anxious on how things will work and what to look out for if things don't go as per plan and I need to understand worst case scenario. 

Developer has forwarded me two documents which he says he had signed with other lenders.. 

(1) Deed of Trust

(2) Promissory note 

I am looking for guidence on

(1) if there any other document I should be signing with developer and 

(2) What are the key things I should be looking into this document. 

Thanks,